46,340 Shares in Modine Manufacturing Company $MOD Purchased by Castleark Management LLC

Castleark Management LLC bought a new stake in Modine Manufacturing Company (NYSE:MOD) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 46,340 shares of the auto parts company’s stock, valued at approximately $4,564,000. Castleark Management LLC owned about 0.09% of Modine Manufacturing as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Systematic Alpha Investments LLC bought a new stake in shares of Modine Manufacturing in the 2nd quarter worth approximately $227,000. Tower Research Capital LLC TRC increased its position in Modine Manufacturing by 514.4% in the second quarter. Tower Research Capital LLC TRC now owns 8,325 shares of the auto parts company’s stock worth $820,000 after buying an additional 6,970 shares during the last quarter. Corient Private Wealth LLC raised its stake in shares of Modine Manufacturing by 42.5% in the second quarter. Corient Private Wealth LLC now owns 13,813 shares of the auto parts company’s stock valued at $1,361,000 after buying an additional 4,123 shares during the period. Captrust Financial Advisors purchased a new position in shares of Modine Manufacturing during the 2nd quarter valued at $206,000. Finally, Wasatch Advisors LP lifted its position in shares of Modine Manufacturing by 1.4% during the 2nd quarter. Wasatch Advisors LP now owns 1,792,413 shares of the auto parts company’s stock valued at $176,553,000 after buying an additional 23,955 shares during the last quarter. 95.23% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Zacks Research cut Modine Manufacturing from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 29th. DA Davidson reiterated a “buy” rating and issued a $200.00 target price on shares of Modine Manufacturing in a research note on Wednesday, November 19th. KeyCorp boosted their price target on shares of Modine Manufacturing from $160.00 to $175.00 and gave the company an “overweight” rating in a research report on Tuesday, October 14th. Oppenheimer raised their price objective on shares of Modine Manufacturing from $145.00 to $180.00 and gave the stock an “outperform” rating in a report on Tuesday, October 14th. Finally, UBS Group began coverage on shares of Modine Manufacturing in a research note on Thursday, November 20th. They issued a “buy” rating and a $173.00 price objective for the company. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $182.00.

Modine Manufacturing Price Performance

Shares of NYSE:MOD opened at $139.43 on Monday. The company has a 50 day moving average of $152.34 and a 200 day moving average of $131.27. The company has a current ratio of 2.00, a quick ratio of 1.16 and a debt-to-equity ratio of 0.50. The stock has a market cap of $7.34 billion, a P/E ratio of 40.30, a P/E/G ratio of 0.89 and a beta of 1.69. Modine Manufacturing Company has a 12 month low of $64.79 and a 12 month high of $166.94.

Modine Manufacturing (NYSE:MOD) last announced its quarterly earnings results on Tuesday, October 28th. The auto parts company reported $1.06 EPS for the quarter, beating the consensus estimate of $0.97 by $0.09. The firm had revenue of $738.90 million during the quarter, compared to the consensus estimate of $699.91 million. Modine Manufacturing had a net margin of 6.93% and a return on equity of 23.19%. The business’s quarterly revenue was up 12.3% compared to the same quarter last year. During the same period last year, the firm earned $0.97 EPS. As a group, sell-side analysts forecast that Modine Manufacturing Company will post 3.88 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Neil David Brinker sold 31,871 shares of the business’s stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $160.56, for a total transaction of $5,117,207.76. Following the completion of the transaction, the chief executive officer directly owned 238,312 shares in the company, valued at $38,263,374.72. The trade was a 11.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.48% of the stock is currently owned by insiders.

About Modine Manufacturing

Modine Manufacturing Company provides thermal management products and solutions in the United States, Italy, Hungary, China, the United Kingdom, and internationally. It operates through Climate Solutions and Performance Technologies segments. The company offers heat transfer coils, including heat recovery and round tube plate fin coils; gas-fired, hydronic, electric and oilfired unit heaters; roof-mounted direct- and indirect-fired makeup air units; duct furnaces; infrared units; perimeter heating products; single packaged unit ventilators; modular chillers; air handler and condensing units; ceiling cassettes; evaporator unit coolers, remote condensers, fluid coolers, gas coolers, and dry and brine coolers; and motor and generator cooling coils, transformer oil coolers, radiators, dryers, and industrial heat exchangers.